Charity Re¥sslration Number.. 248397 The Spencer Homes Charity Annuhl Reporl and Financial Statements for the Ye&r Ended 28 December 2025
The Spencer Homes Charity Contents Reference alld Administrative Delails Trnstees, Report 2103 Jndependent Ex¥mineT'S Report Statemcnt of Finon¢ial Activities Balance Sheet Notes lo the Financial S¢atement8 7t015
The Spencer Homes Charity Refeyenee and Administrative Details Charlty Regi5trMtion Number 248397 Alnisliou5e Association Member Number 1022 Trusteej Mr K Narey (Chairl Mr G Carr {Resi8ned 4 June 20251 Mrs J Y Smith Rev G L Hall Mrs H R Marshall Mr D A Brown Dr S Harrison Rev S Mccarter (appointed 4 June 2025) Secretary Mr S Brow Prlnelpal Office Fold House. 6 The Fold Loihersdale Keibbley West YorkshllE BD20 8HD Banker5 Virgin Money 14 Broadway Bradford West Yorkshire BDI IEZ Independent Ei xaminer Mark Wilcock FCA Watsot) Buckle Limiied tndependenl Ex111¢r Yolk House Cottingl¢y Business Park Bradford BD16 IPE Page I
The Speneer Home5 Charity Trustees, Report The TTUSt¢es prescnt the annual report togeiher with the finan¢ial ststements. of the ¢harity for the year ended 28 December 2025. Strueturey governaDce And management The Charity is the omner of six houses and oiie flat at Rose-in-thE Dale. Lothersdale. When there is a vacancy the T]ustee8 try to find a L"e5idei)t of Loihersddle suitable for appointment as an almspeibon. but becau8e of the lack of transport and 5hoppin8 facilitieq in the village, there are diffJ¢uliies in findiiig suitable applicants. Consequetstly, in the 8b5cnce of a.%uitablc applicant. thc Tn15tees mak¢ the propert1¢5 available for letting to the general public aiid priority is given lo someone in reduccd circllm8tan¢es or living sn sul>standard 4Gcomrnodation or who has some ¢onne¢lion 10 Loihersdale. All new Trustees are given an inttoduction ro the work of the Trust by the exisiing Trnstecs and are 8150 provided with Charity Commission publi¢8tion CC3 'The Ess¢ntial Trustee. what you need to know, and CCIO 'The Hallmarks of an Effc¢liv¢ Charity,. The Trustccs of thc Charity hold meetings every three mottths unless there are special circumslattces that require additional meetings. The changes to the TJus¢ees thL5 ycar air noted on thc previou5 page. Maintaining tbe number of Tivstees at seven is of grcat bcnefit and enable.% the Trnstees to Contin the responsibilities of property mor]agement aDd acting as responsible Social Landlord. In setting aiid reviewing our aims the Trusiee5 have given Careful nsideratiOn to the Charity Commission's guidance on public benefjt. Objectlve& aDd activltles The Trustees review ihe rents annually in March after considcration of the 13udgct of ineomc and expendilurc. This year the Trustees decided io make no increase to the rents, tbey consider the current maintenance charge is achitving value for money. The Trustees have contioued to mainthin the properlie¥ to a high 5talldard of repair and seek to make ilnprovements either wh¢n propertie5 becomc vacant or when tkceds are idcnlified. The Five Yearly Quinquennial Insp¢ction to identify aDd i]nplcmcnt planned mainicnancc and improv¢m¢nts wa5 carTied out in Scplcmber 2019. The Trust properties have a private water supply and ensuring that both the quality and quantity of the water is maintained is a constant ¢on¢etn. Water qu8lity 1¢sting ha5 been maintained and any remedial works identified dealt with. Houslng Property A$8ets Details of changes to the charities assets are shown in note 10 and I l. Post Balance Sheet Events Wc consider that there have been no evenls since the year ejid that have had a significant ¢ffe¢t on ihe tntS finaiicial
sition. GoiDg Concern After making ertquiries. the Trllstees have a reasonable expectation that Ihe charity has adequaie resources to continue in operatioii&l existence for the foTesteable tllre, being A period of twelvc months after ihe date on which the r¢port and finaiieial statements ai¢ si8ned. For this i'eason, it continues to adopt the going cot)cern basis in the financial statnlts. Page 2
The Speneer Homes Charity Trustees, Report Reserves pollcy The Trustee5 have revicwed ihe Charitls needs for the reserves in line with the guidance issued by the Charity Commissiot) and consider it prudtnt that reserv¢s should be suffieient to avoid the necessity to realise fixed as5cls. The TrustCC5 are confident that future income wtll ertable the Charily lo meet its forcseeable needs on the basis of planned ¢xpendIre. Total charity fi]nds at 28 December 2025 werc £458,101 (2024 - £442 J49). The amount of reserves after making allowa¢Jces for restrietcd funds and not tied up in tangiblc fixed assets or programme related inve8trnents amounted to £76,239 {2024- £55.181}. Risk m8nagement The Trustees give consideration to the fflajor ri5k5 to which th¢ Charity is exposed and systems whiGh are designed to mitigate those risk5 on #n vngoing basis. Independent ezaminer The re appointment of W80n Buckle LiTnited was agreed by the Trustees. Pthblic benefit The Trustees eonfirni that they h4v¢ complied with the requirem¢nts of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Value for money The Trustees are mind[ of the need to obtain value for money in all transactions entered into on behalf of the charity when major works aTe undertaken a competitiye tender is rri out. The charity regularly reviews its investments perfomianee to ensure they still achieve a good rate of return. Flnao¢lal review The TJv$tees consideT the Trust's investment portfolio at each quarterly meeting and consider whether any Changes are needed. The inv&%lmenls are in funds 5pe¢ifically d¢signated for Charities and geared towards providing income whilst incorporating long-t¢mi growth. The TNstees rew>rt that the sutplus for the year was £15,752 atld the net assets of the Charity at 28 Dccember 2025 were £458,101. The ajjnual report was Approved by the Trustees of the charily on !• Mr K Narey (Chair) Trustee Page 3
The Spencer Homes Charity Independent Examiner's Report to Ihe truslee8 of The Speneer Homes Charity I report to the charity tn2sle¢s on my examination of the ac¢ounts of the charity for the year ended 28 December 2025 which are 8et out on pages 5 10 1 S. Re5pettlv¢ respon$lbllltles of trustee5 and examlner As the charily's tnislees of The Spenc¢r Homcs Charity you are re$ponsible for the preparatAon of the accounts in aecordance with the requirements uf ihe Charities Act 2011 ('the Act')- report ITL respect of my examination of The Spencer Homes Chority's accounts ca]Tied out under section 145 of the 2011 Act and in carryin¥ out my examination I have followed all the applicable Directions given by the Charity Commission under ¢tiOn 145(5llb) of thE Act. Independent examloer's staternent I have ¢ompleted Iny exan)ination. I Conf that no material matters have comc lo my attention in connection with th¢ eMInalLn giving me cJuse lo believe thal in any n18tla1 resp¢ct- l. accounting record5 were not kept in respect of Th¢ Spen¢er Homes Charity as rcquired by section 130 of the Act., or 2. the accounts do not at¢ord wtth those records- or 3. Ihe accounts do not Comply with the accounting rcquiTemen15 concerning the forn) and content of accounts set out in the Chaiities (Accounts and Rcportsl RegulatÉons 2008 other thon any req[Tement that thc actovnts give 'true and fair view, whi¢h is not a matter ¢onsidered As part of an independent examination. I have no conccrns and have come across no oth¢r matte[$ in connrclion with the examinalioii to wbich attelltion should be drawTr in ihis report 111 OTder to enable a proper understanding of ihc a¢¢ounts to be leached. ilco FCA Indepen Examiner Watson Buckle Limited B Tadford Date.. Page 4
The Spencer Homes Charity Statement of Financial Ac¢ivities for the Year Ended 28 December 2025 (Including Income and Expendlture Aecount) Endowment funds Unrestrieted funds Revaluatio reserve Tot41 2025 Total 2024 Gener81 Permanent Note Incomc 8nd endowments from Inv¢stm¢nts Charitable activities Other illcome 9,207 32.484 129 9,207 32,484 129 9,869 31,915 3,129 Total Income and endowments 41,820 41,820 44,913 Expenditure Charitable activities (20,658) 120,658) {18.583) Net income Gainsllosses on inve5tmertt assets 21.162 21.162 {5,410) 26.330 {1,254) 25.076 15 {5,410) Net movement in funds 21,162 5,410) 15,752 Reconclliation •f funds Total funds brou¥lil forward 417,695 13,500 11,154 442,349 417,273 Total funds carried fonvard 438,857 8,090 11,154 458,101 442,349 The funds breakdown for The current and prior year is shown in not¢ 15. Pagc 5
The Spencer Homes Charlty (Registration number: 248397} Balance Sheet as at 28 Dee¢mber 2025 2025 2024 r4ote Fixed assets Tangible assets Investments 10 157.035 218,765 164,025 217.208 375 800 381,233 Current a9sets Debtors Cash al bank and ill hand 12 2.964 1,433 69,132 91,783 70,565 Credltors: Amount5 falliDg due wlthfn oDe ye&r Net current assets 13 14,517 {4,357 87,266 66,208 Total assets les8 current1Sabllities 463,066 447,441 Creditors: Amount$ falllng due after more th&D one year Net assets 14 4,965 5,0921 458,101 442.349 of the ch*rlty: Reserve$ Unrestricted funds Unrestricted revaluation reserve Endowment fund5 438,857 8,090 11,154 417,695 IJ,500 11,154 Tot41 Reserves 15 458 101 442.349 Th¢ financial statements on pages 5 to 15 were approved by the trustees, and authorised for issue on IO signed on their behalf by: Mrs H R Marshall Trustee Page 6
The Speneer Homes Charlty Notes to the Financial Statements for the Year Ended 28 Deeember 2025 l General Informa*loll General informatlon The entity is an unincorporated registered charity govorncd by their ¢oiistitutioll, reKi$tered in England and Wales. The address olthe registered officc is: Fold House, 6 The Fold Loihersdalc Keighley West Yoikshire BD20 8HD Charity registration number.. 248397 2 Aecountlng polldes StAtement of¢ornpiiante Th¢ financial slalemenls have been preparcd in accordancc with Accounting and R¢portillgi by Charitie8.' Statemenl of Reiommended Practi¢¢ (SORP) applicable to charities preparing their accounts in a¢cordanLe with thc Finaocial Reporting Standard applicabl¢ in Éhe UK and Republic of Ireland IFRS 1021 {¢ffectivr l January 20151- (Charilies SORF IFRS 102)), the Financial Reporting Standkwd appli¢able in the UK and Republic of Ireland IFRS 102) and the Charities Act 2011. B8s1s of preparhtlon Thes¢ facial 5tatemettts have been pr¢pared u51ng the historical to$t convention except that as di8¢losed in the accounting policies ceifain items ar¢ shown at fair valuc. The charity constitutes A publi¢ bentfii entity as defined by FRSIO2, The charitys fvnciional and presentstion ¢unEncy 15 pound sterling. Income And endowinents Government 'ants from The Housing Co]poration are received IJJ respcct of the Spencer Homes Charity. These grants are re¢ognised at the fair valu¢ of tlJ¢ asset received. Where th¢ assets are accountcd for usillg the cost model tlien the goveTlltnent grant is ac¢ounted foT using the accEuals mod¢l. The diffcrcncc between the fair value of the asset and ihe consideralioii 15 recognised as & liability and amortiscd over the useful economic life of th¢ asset. This amortisation is recognised withill income. Chrtrltuble aeilvliles Weekly maintenanc¢ charges from hol]ng propeiti¢s is re¢ognis¢d on xccruals basis. Deféryed Income D¢f¢rred illeoine repTesents ¥moiinls receivcd for future periods and is rele88ed to incoming resources in the period for whiGh, it has been received. Such in¢oine is only deferred when: - The donor 8pecifi¢s that the grant or (lon8tion must only be used in future accounting p¢riods,' or - The donor has imposed conditions whicb must b¢ met before the chirity has utjcondilional entitlem¢nt. Page 7
The Spencer Home$ Charity Noles to the Financial Statements for the Year Ended 28 December 2025 Ihveslimeiil iwctsKie In¢omc is earn¢d from holding fixed assets for inveslinent purposes and is r¢¢ognised wh¢n rcceivable and the arnount cat) be measured reliably by Ihc charity. Inter¢ on funds hel(J OD deposit is included when recciv8ble and the amount can be measured reliably by the charity. ExpeDdlthre All ¢xpenditurc is rccogniscd once there is a legal or conslrll¢tive obli¥ation to that expenditure, it is probable s¢ltI¢ent is requiied 8nd th¢ amount can bc measured reliably. All costs are allocgttd lo Ihc applicable expcnditure lieading that a¥gate similai. costs to that category. Where costs cannoi be diTectly attributed io particlllar headings they have be¢n allocat on a b8sis ¢onsistcnt with the use of rc$ource5. wilh central staff cos15 allocated on tbe basis of time spent, and depreLiation Charges allocated on the portion of thc asset's usc. Other support costs are allocated based on the SPiEad of staff costs. Charilohle ueiivlties Charitable expenditure comprises thosE Costs incuned by the Charity in the deltvery Of its activitie8 and services for its beneficiaries. It includes both e05t5 that ¢aE) be allocated directly to such activities and those eosis of an iiidirecl nature necessary to support ihem. Governanet t05tS These in¢ludB the Costs athibutable to the charity's compliance with constitutional and statutory requirements, including audit. strategi¢ management and trustees. meetings And reimbursed expenses. T4Xatlon The charity is considered to pass the tests Set out in Paragraph I Schedule 6 of the Finance Act 2010 and th¢r¢fO it mtet5 the definition of & charitable company for UK corporation tax purposes. AordIng[y. the charity 18 potenlially exempt from Iuxation in respect of income oi. capElal gain.i irceived within categories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusivcly to ¢haritabl¢ purpos¢s. Tan¥ible fixed asset5 Individual fixed assets costing £IUO.00 or more are initially recorded at cost. DepreciatloD 4Dd amortts&tlon Depre¢iation is provided on tangible fixed assets so as to write off the cost or valudlion. Ickn any estimated residual value, over their expected sefUl economic life as follows.. Asset class Original strnctUTe Roof$ Doors and windows Boilers Bathroom Kitchens Electrical and heating LnsLqllatiotL% Depreclatlon method gnd rAte 50 ycar. SO years 30 rS 15 years 25 years 20 yeaTS 25 years Major components of housinb pi'operties have bccn accountcd for and depreciated separately froin Ihe rollnected housing property, over (heir expected yseful ¢cunomiL livc%. The cost of rcplacijjg th¢.%e cotnponcnts Is capilalised in 11. Thc cost of partially rcplacing or repairing these components are charged to th¢ charitable activities. Pag¢ 8
The Spencer Homes Charity Notes to the Financial Statements for the Year Ended 28 December 2025 Signifieant JwdgeEnents ¥4nd estlmate5 Preparaliun ofthc finatieial slAteinents requi5 managen)¢nt to make sigiiifieant judgeinents and estiTIles. The it¢ms iti the financial statements whcre fhese judgm¢nts and eslijnatcs have been made include= Depre¢iolioN Managemcnt reviews its esiimai¢ of the useful lives of d¢pieciable assets at each reporting date bas on th¢ ¢xp¢cted utility of the assels,. how¢ver, by Ilieir nature, component life cannot bc dcternihned wilh absolulc c¢rtainty. Fixed a51Ct InYestmeTht5 Fixed asset inveslmcnts, other than pmgramD]e related inv¢stm¢nt8, are illcluded at market value at the balanc¢ sheet date. Realised 8ains and losses on investments are ealculaled as the ditT¢r¢n¢¢ between sales prts¢¢eds and their mai'k¢l value at th¢ sihrt of the yeai". or their subsequ¥nt Lost, and are Chased 01 ¢iedil¢d to the Siatemtnt of Financial Activities ill thc period of disposal. Unrealled gains &nd losses rcpresent th¢ movement an market values dwing the year and are ¢redited or charged to th¢ StatempAit of Fiiiancial Aclivities based ot) the market value at the vear end. Debtors Debtots are recognised initially when they become due at the transaction price. Thcy are subsequently messured at amortised ttsst using Ilie effect£v¢ interest rate method, less provision for itnpaimient. A provision for impairment of debtors is e5(ablishEd wli¢ii there is objectiv¢ evidence that the Charity will not bc able to colle¢t all amoujiis due according to lh¢ original term5 of the debtors. Credltors Creditors are obli8ations tts pay for goods and SCTvi¢es that have been acquired by the Charity. Cr¢dilor8 are initially reLognised at the transaction PTice and subsequently measured at amortised cosi using the effective interest method. Cagb and Cash equlv8lent5 Cash and cush equivalell15 comprise cash on hand and call deposkls, and other 5hort-t¢m) highly liquid investm¢nts that re readily convertible to a known atnount of cash and are subject to an insignifjcant risk of change in valuc. FinY4nelal instruments The chaTity only has finat]cial asseis and fjnallcial liabilitie8 of a kind that qualify as basi¢ fancial in51rufflents.. Basic financial instruments are initially recogtlised at tran$acti<)n value and subsequenily measured at their s¢tilement value. Page 9
The Spencer Homes Charlty Notes to Ihe Financial St&tements for the Year Ended 28 Deeember 2025 3 Income fi'om Investments Unrestricted TotAI 2025 TotAI 2024 General Inleresl receivdble and similiw income- Interest receivable on baiik deposits Other income fro]n fixed ass¢t investm¢nt8 2.240 6,967 2,240 6,967 2,432 7,437 9,207 9,207 9,869 4 Income from Cbarltoble Attlvltles Unrcstrleted Toial 2025 Tot# 21124 Ceneral Weekly rn8intenance charges Voids 32,484 32,484 32,345 (4.10) 31,915 32.484 32.484 5 Other Incom¢ Unrestricted Total 2025 Total 2024 GenerAI AmortlS8tion of grants Other income Grants receivable 127 127 127 3,0(K) 129 129 3,129 Page 10
The Spencer Homes Charity Notes to the Finydncial Statements for the Ye&r Ended 215 December 2025 6 Expendlture on Charltable Aetivitles UDrestrl¢led fund5 Total 2025 Total 2024 Central Rales Light, heal and power Tnsurancc Repairs and Tenewals Trade subscriptions Managemcnt charges payabl¢ Independent exllminerfs fee DepreLiation of freehold property 2,048 1.392 1,623 5.642 383 2,048 1,392 1.623 5.642 383 1,200 1,380 6,990 1,651 1.477 1,667 4.278 1,200 1,380 6,990 1.200 1,320 6,990 20,658 20,658 18,583 7 Analysis of goverllaThee and support CO8ti Govtrnan¢e eosts Unrestrlcted Total 2025 Total 2024 General In(kpendent examinels fee 1,3110 1,380 1,320 8 Trustees Yemuneratinn txpenscs No trustees havc reccived any Etmuneration or iEimbursed expenses fiDm th¢ Lharily during the current or pr¢vi(ius year. 9 Key management persoMn¢l The charity ¢onsid¢rs its k¢y manauemenl personnel comprisc the thJ$tees. The totsl key m8nagcmcnt personnel r¢muneration benefi1& were £Nil (2024- £Nil). Pagell
The Spencer Homes Charity Note8 to the Flnan¢ial Statements for Ihe Year Ended 28 December 2025 10 Tanglble flxed assets HOsing properties for l¢ttlng Property improvetnents Total Cvst At 29 December 2024 41,817 202.105 243,922 At 28 December 2025 41,817 202.105 243,922 D¢preciation At 29 DeceM1r 2024 Chai'ge for the year At 28 December 2025 7,524 836 72,373 6,154 79,897 6,990 8,360 78.527 86,R87 Nel book value At 28 De¢ember 2025 33,457 123,578 157,035 At 28 Dccember 2024 34,293 129.732 164.1125 Page 12
The Speneer Home8 Charity Notes to the Financial Statements for the Year Ended 28 December 2025 11 Fixed asset inYestJnent5 2024 2024 Listed investments 218,765 217,208 Other lthvestments Listed inve5tm¢nt$ TotHI Cost or Valuarfon At 29 December 2024 Revaluation Addititsns 217,208 15.410) 6,967 217,208 (5,410) 6,967 At 28 December 2025 218,765 218,765 Net book value At 28 December 2025 218,765 218.765 At 28 December 2024 217,208 217.208 The fair value of lisied invesim¢nts is d¢terniin¢d by referen¢¢ lo th¢ quoted price for id¢oli¢al ass¢ts in an active rna¢( ai th¢ balance sheet date. Histoiical costs of invesitnell15 are £221,556 (2024- £214,588). 12 Debtoys 2025 2024 Prepaym¢nis WMC allr5 1,714 1,250 1.183 250 2,964 1,433 13 Creditor5: amoun15 falling due withln yeor 2025 2024 Other creditors Accruals Grants 1,810 2,580 127 1,810 2,420 127 4.517 4.357 Page 13
The Spencer Hom¢$ Charlty Note5 to the Financial StAtements for the Year Ended 28 December 2025 14 Credltor8: amounls falllttg due after one year 2025 2024 Grants 4,965 5,092 Housing Association Grants have been received, this will be repaid If the propertte% are sold. The Housing A$slatiOn Grants are being re¢ognised i2] income on a systematic basi.8 over th¢ expe¢t¢d u$¢fi]I life of the stw¢ture150 Yea). 15 Funds Bal&net at 211 Deetmber 2024 Other reet>gnised galnsl(losses) Balance at 28 De¢embcr 2025 Incoming rosourees Re5nurce$ expended Unrestrleted G¢ner41 417,695 41,820 (20,658) 438,857 Other 13,500 5,410 8,090 Total unrestrlcted 431.195 41,820 (20,6581 (5,410) 446,947 EndDTrYme#t Pern)anent Total furtS 442,349 20,658 5,410 458,101 BalaThce at 2 December 2023 Olher recognised gain(10$5¢$I B*lAnt¢ It 28 December Resource5 expended resources 2024 UTrre5tri¢led General 391,365 (18,583) 417,695 Oth¢r 14,754 (1,254 13,500 Tot41 Mnrestrlc¢ed 406,119 (18,583) (1.254) 431,195 Pemianent 11,154 11,154 TotAI funds 417.273 18,583 11,254) 442.349 Page 14
The Spencer Hon)es Charlty ote5 10 the Financial Statements for Ihe Year Ended 28 December 2025 16 AnAIv8ls uf net assets between fund5 Unrestrlcted Endowment fund5 runds General PerJDAnellt funds fund$ Otber fund5 T(btAI funds Taii8ible fixed assets Fixcd asset inv¢slments CurreDi assets Current liabililies Creditors ov¢1 l year 57.035 224.175 80,629 (4,5171 {4.965) 157.035 218,765 91,783 14,517) {4,9651 (5,4101 11,154 Total net &ssets 452,357 11.154 (5,410) 458,101 Pag¢ 15